Yansab authorizes board to pay interim dividends for 2025

Yanbu National Petrochemical Co.’s (Yansab) shareholders approved authorizing the board of directors to distribute interim dividends semi-annually or quarterly for 2025, according to a statement to Tadawul.

 

This came during the ordinary general meeting (OGM) held on March 20, the statement added.

 

Shareholders also approved the appointment of PwC (formerly PricewaterhouseCoopers) as the company's external auditor from among the nominated candidates, based on the recommendation of the audit committee.

 

PwC will be responsible for auditing, reviewing, and examining the company’s financial statements for the next four years, starting Q2 2025 through Q1 2029, for a total fee of SAR 2.51 million, excluding value-added tax.

 

Additionally, the board members were discharged from liability for 2024 during the meeting, Last December, Yansab changed its methodology for disclosing the board of directors’ decisions on interim dividend payments, effective from 2025, subject to shareholders’ approval.

 

This amendment included decisions regarding interim dividends for the first half to be announced after the approval of the preliminary financial results for the second quarter of the same fiscal year. Similarly, interim dividends for the second half will be disclosed after the approval of the annual financial results for the same fiscal year.